UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of
Report (Date of earliest event reported): January 21,
2011
LINCOLNWAY
ENERGY, LLC
(Exact
name of registrant as specified in its charter)
|
Iowa
|
000-51764
|
20-1118105
|
|
(State
or other jurisdiction of
|
(Commission
|
(IRS
Employer
|
|
incorporation)
|
File
Number)
|
Identification
No.)
|
|
59511
W. Lincoln Highway, Nevada, Iowa
|
50201
|
|
(Address
of principal executive offices)
|
(Zip
Code)
|
|
Registrant's
telephone number, including area code: (515)
232-1010
|
|
Not
Applicable
|
|
(Former
name or former address, if changed since last
report.)
|
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
|
o
|
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
|
|
o
|
Soliciting material pursuant to
Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
|
|
o
|
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
|
|
o
|
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
|
|
Item
8.01
|
OTHER
EVENTS.
|
Lincolnway
Energy, LLC entered into an Option To Purchase Or Lease (the "Agreement") with
DuPont Danisco Cellulosic Ethanol LLC ("DDCE") on January 21,
2011. Under the Agreement, DDCE has the exclusive right and option to
negotiate for the purchase or lease of real estate from Lincolnway Energy for
the purpose of DDCE constructing and operating a cellulosic ethanol plant on the
real estate. The exact real estate is not specified in the Agreement,
but it will be real estate adjacent to Lincolnway Energy's ethanol
plant. The option will expire on the earlier of January 31, 2012 or
the date on which DDCE agrees to purchase or lease any real estate from any
third party for the construction of the DDCE cellulosic ethanol
plant. DDCE may, however, extend the option period by six
months. If DDCE timely exercises the option, DDCE and Lincolnway
Energy will then have one month to negotiate and agree upon the terms of a
purchase agreement or a lease agreement for the real estate. DDCE
will pay Lincolnway Energy a nonrefundable fee for the option. If
DDCE purchases or leases any real estate from Lincolnway Energy, the fee (along
with deemed interest on the fee at the rate of 2% per annum) will be applied
against the purchase price or the lease payments. If DDCE has
extended the option period, the related fee will also be applied against the
purchase price or the lease payments.
The
specific real estate to be purchased or leased by DDCE from Lincolnway Energy
under the Agreement will need to be mutually agreeable to DDCE and Lincolnway
Energy, in their respective sole discretion. The terms and conditions
of any purchase agreement or lease agreement will also need to be mutually
agreeable to DDCE and Lincolnway Energy, in their respective sole
discretion. DDCE and Lincolnway Energy will also need to negotiate
various ancillary agreements addressing, among other things, DDCE's access to
and use of certain facilities (such as loading and railroad) and materials (such
as corn mash) of Lincolnway Energy and DDCE providing Lincolnway Energy with
certain biomass waste materials from DDCE's cellulosic ethanol
plant. The terms of those ancillary agreements will also need to be
mutually agreeable to DDCE and Lincolnway Energy, in their respective sole
discretion. There is therefore no assurance that Lincolnway Energy
will sell or lease any real estate to DDCE. Also, DDCE has not yet
made a definitive decision to construct the cellulosic ethanol plant or, if it
does, what location it will attempt to purchase or lease for the cellulosic
ethanol plant. There is also, therefore, no assurance that DDCE will
select Lincolnway Energy's real estate.
SIGNATURES
Pursuant to the requirements of the
Securities Exchange Act of 1934, the registrant has duly caused this report to
be signed on its behalf by the undersigned hereunto duly
authorized.
|
LINCOLNWAY
ENERGY, LLC
|
|||
|
Date: January
26, 2011
|
By:
|
/s/ Richard Brehm | |
| Richard Brehm, President and | |||
| Chief Executive Officer | |||